Weekly Trading Update - October 6-10 forex b
What can I say about this week? Well not a lot actually. In one of the most dramatic weeks on the markets I can ever remember, I have to confess that for what I believe is the first time this year I didn't make a single trade.
That's mainly because my main trading system didn't throw up any positions except for one on the EUR/USD, but this occurred overnight so was untradeable. When this happens I usually revert to the 5 minute charts and do some intraday trading or revert to the 1 hour charts and look for breakout opportunities, but with so much going on I couldn't bring myself to actually enter a trade.
With such wild swings in the markets, capital preservation is very important so I decided to sit on my hands and just absorb all the breaking news that keeps on coming out from all around the world. These are historic times and if I didn't have so much money tied up in long-term share positions I would probably find it quite fascinating, but for now I just wish it would all come to an end and we could get back to a normal trading environment.